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IMF downgrades growth outlook

The International Monetary Fund (IMF) has made several revisions to its global GDP growth forecasts in its twice-yearly World Economic Outlook.

Its estimate for the GDP growth of the advanced economies has fallen from its projection of a negative 1.8% made in January, to its current forecast of a negative 3.8%.

The biggest GDP declines were forecast for Japan – down from a negative 3.6% to a negative 6.2%, Britain (down from -1.3% to -4.1%), and Germany (down from -3.1% to -5.6%).

The IMF forecasts Chinas GDP growth for this year at 6.5%. At the start of the year it projected it would grow by 6.7%.

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